Healthcare Assistive Robot Market - By Product (Surveillance & Security, Humanoid, Rehabilitation, Socially Assistive), By Portability (Fixed Base, Mobile), By Application (Stroke, Orthopedics, Cognitive & Motor Skills, Sports) & Forecast, 2023 – 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationHealthcare Assistive Robot Market - By Product (Surveillance & Security, Humanoid, Rehabilitation, Socially Assistive), By Portability (Fixed Base, Mobile), By Application (Stroke, Orthopedics, Cognitive & Motor Skills, Sports) & Forecast, 2023 – 2032
Healthcare Assistive Robot Market Size
Healthcare Assistive Robot Market size was valued at around USD 514 million in 2022 and is projected to reach over USD 3.2 billion by 2032 owing to increasing technological advancements and automation in the healthcare industry.
Rising healthcare spending for providing better healthcare infrastructure, increasing disposable income, consistently increasing geriatric population, and surging automation levels in healthcare settings are some of the major factors responsible for increased adoption of healthcare assistive robot across the world. Moreover, advancements pertaining to healthcare assistive robot with regards to its applications, functionality, and accuracy will influence the business progression positively.
Healthcare assistive robots are robots designed to aid and support to patients and healthcare professionals in various medical settings. They are intended to enhance patient care and improve healthcare outcomes by increasing efficiency, reducing the workload of healthcare workers, and providing personalized care to patients.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Healthcare Assistive Robot Market Size in 2022 | USD 514.3 Million |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 20.9% |
| 2032 Value Projection | USD 3.2 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 180 |
| Tables, Charts & Figures | 370 |
| Segments covered | Product, Portability, Application, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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Healthcare assistive robots have the potential to make a big difference, but there are a few things holding them back. First, they're often not able to do everything we need them to. For example, some robots can't move around complex environments or perform delicate tasks. This means they can't be used in all healthcare settings. Second, they can be very expensive. This is because they require a lot of research and development, and the materials they're made from are often costly. This makes it hard for hospitals and other healthcare facilities, especially in developing countries, to afford them.
COVID-19 Impact
The recent outbreak of COVID-19 had negatively influenced the healthcare assistive robot market revenue, specifically during the first half of 2020. The coronavirus outbreak proliferated the disease burden and hampered several global businesses including the healthcare sector, during initial phase of 2020. These conditions negatively impacted the market growth in the initial quarters in 2020, although later the market recovered, thereby mitigating the initial impact. Hence, the COVID-19 pandemic did not have a substantial impact on the market, and the market continued its growth trajectory in 2021.
Healthcare Assistive Robot Market Trends
As we grow older, we're more likely to face health challenges and physical limitations. Robots designed to assist in healthcare can offer a helping hand, supporting both seniors and their caregivers. One major concern for seniors is the risk of falls. Healthcare robots can keep an eye on older adults, reminding them to take medications and offering help with movement and recovery exercises. Unfortunately, the number of falls among seniors is on the rise around the world. This has led to a growing need for healthcare robots to help prevent these accidents. Beyond falls, the increasing number of seniors also means a higher prevalence of other health conditions, such as infections after surgery or issues related to aging and metabolism. This growing need for healthcare assistance is driving the market for healthcare robots.
Healthcare Assistive Robot Market Analysis
Based on product, the healthcare assistive robot market is segmented as surveillance & security robot, humanoid robot, rehabilitation robot and socially assistive robot. Rehabilitation robot dominated the market in 2022 accounting for more than 41% of the total business share. Rapid adoption of technologically advanced robotic equipment in the healthcare sector, increase in healthcare spending, availability of advanced devices and trained personnel in rehabilitation facilities are some of the factors anticipated to drive the industry progress. Moreover, incorporation of advanced technologies in products for disease specific treatment and increase in target population will further propel the market expansion.
When it comes to how these healthcare helper robots move around, they're split into two typesthose that stay put (fixed base) and those that can move around (mobile). The ones that can move around are predicted to grow really fast over the next decade, by about 21% each year. This is because these mobile robots can do a lot for both patients and healthcare workers. For example, they can help people who have trouble getting to the doctor's office. They can also give personalized care, which means they can make sure each patient gets the care they need. And they can keep an eye on patients' health and give them emotional support, which can help them get better faster.
When it comes to healthcare, assistive robots are playing a bigger role, and they're being used to help people with different needs. One of the main areas where these robots are making a difference is in helping people recover from strokes. A stroke can leave people with problems like difficulty moving or remembering things. Assistive robots can step in to help with these issues. They can keep track of a person's vital signs, like their heartbeat and blood pressure, and they can also check on their movement and balance. This way, doctors and nurses can keep an eye on their patients and make sure they're getting better. Assistive robots can also help people practice walking, reaching, and other movements that can be hard to do after a stroke. They can even provide emotional support by talking to patients and letting them know they're doing well. This can help people stay motivated and make their recovery go smoother. Because of all these benefits, the market for healthcare assistive robots is growing rapidly, especially in the area of stroke recovery. In 2022, the stroke segment of the market was worth over $131 million, and it's expected to keep growing in the coming years.
The healthcare industry in North America is embracing assistive robots, and this trend is set to continue in the coming years. By 2032, the market for these robots is expected to reach a whopping $1.1 billion. This surge in demand is driven by several factors. First, there's a growing number of major companies investing in healthcare assistive robots. Second, more and more people are developing chronic diseases, leading to a higher demand for these robots for diagnosis and treatment. Third, people are becoming increasingly aware of how assistive robots can improve healthcare outcomes. One specific area where assistive robots are gaining traction is orthopedic surgery. As the number of orthopedic disorders rises, so does the need for effective, safe, and proven solutions. In 2020, an impressive 11% of knee reconstruction surgeries were performed with the assistance of robots. As orthopedic ailments and other chronic diseases continue to spread, the demand for assistive robots in this field is expected to skyrocket.
Healthcare Assistive Robot Market Share
Some of the major players operating in the healthcare assistive robot market are
- Barrett Technology, LLC
- Cyberdyne, Inc.
- Ekso Bionics Holdings, Inc.
- GaitTronics Inc.
- Hansen Medical, Inc.
- Hocoma AG
- HONDA Motor Co. Ltd.
- Interactive Motion Technologies, Inc.
- Kinova Robotics
- ReWalk Robotics Ltd.
- SoftBank Robotics Corp.
- OmniCell
These leading market players are implementing advanced technologies to cater to the large unmet needs of the consumers. These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Healthcare Assistive Robot Industry News
- In January 2019, BIONIK Laboratories Corporation announced the launch of InMotion ARM/HAND robotic system to improve rehabilitation for stroke survivors. This robotic system is incorporated with enhanced hand-rehabilitation technology and utilizes artificial intelligence and data analysis to provide individualized therapy that empower patients. This innovative product launch helped the company to increase their product portfolio and enhance their business revenue.
- In November 2019, Intuitive Surgical Inc. announced that they had received the U.S. FDA approval for Intuitive’s E-100 generator for two of the da Vinci surgical systems to help improve procedures that require sealing. This generator powers da Vinci X and Xi systems and offers enhanced capabilities in general surgery. This approval helped the company to enhance their R&D capabilities and increase their market value.
Healthcare assistive robot market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments
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By Product, 2018 - 2032 (USD Million & Units)
- Surveillance & Security Robot
- Humanoid Robot
- Rehabilitation Robot
- Socially Assistive Robot
By Portability, 2018 - 2032 (USD Million)
- Fixed base
- Mobile
By Application, 2018 - 2032 (USD Million)
- Stroke
- Orthopedics
- Cognitive & Motor Skills
- Sports
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Sweden
- Switzerland
- The Netherlands
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Thailand
- Vietnam
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
- Egypt
- Turkey
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